Commerce Maturity Model
The LYONSCG Commerce Authority Score is designed to help businesses assess the health of their commerce strategy, and uncover opportunities to improve it. The assessment is conducted through a survey covering four areas:
- Business Strategy
- Customer Journey
- Digital Marketing
Your assigned consultant will review your Commerce Authority score with you, highlighting the items that could inform your businesses road map, and the action items that accompany those areas of opportunity.
1. Our company has a customer data repositoryYou Scored 0/2
It is important to understand how your customer likes to shop and where they like to spend their money. Multiple databases can be a hindrance to understanding customers habits and likely you are duplicating efforts in marketing. It would behoove the brand to move to a single customer repository.
2. Our organizational structure prioritizes the overall customer experience through all business channelsYou Scored 0/2
Your customers want to shop where they want and when they want. Having a siloed organization usually creates conflict in a multi-channel business. Stores, Direct, and Web should be at least sharing a calendar and be transparent in their marketing efforts. Some departments should probably be combined so marketing dollars are not duplicated.
3. We have a yearly budgeting processYou Scored 0/2
What are the major hurdles in your way? A budget is a critical tool for any business. At a minimum, an annual budget needs to be created. Organize this budget to break down top-line revenue forecasts and expenses by month. Both revenues and expenses should be specific to how revenue is generated and how marketing spend is utilized. It is also very important to understand how the company is marking down products, utilizing promotions, and dealing with aging inventory.
4. We have a strong understanding of who our customers areYou Scored 0/3
Not all customers are created equal, but at the very least, you should be gathering demographic data such as age, gender, and location to paint a picture of your core shoppers.
5. We have a strong understanding of our competitors and the competitive landscapeYou Scored 0/2
Understanding who your competitors are, and having the ability to benchmark your metrics against these individual competitors and your industry as a whole is critical to prioritizing new functionality, implementing improvements, and measuring success.
6. We offer standard pricing and promotions across stores and channelsYou Scored 0/5
Unifying pricing across all touchpoints is an essential component of delivering a consistent brand experience. Can you elaborate on the factors contributing to this discrepancy?
7. We provide customers with full visibility into both online and in-store inventoryYou Scored 0/4
Supply chain visibility is core to delivering a seamless customer experience. Where is your inventory data located, and how can you bring this online? Luckily, you may not have to replace your ERP and/or POS systems to solve this. Consider integrating your existing silos of inventory data to a cloud-based OMS with robust "Available To Promise" functionality.
8. We fulfill online Ship From Store ordersYou Scored 0/4
For most multi-channel retailers, there are tremendous opportunities to increase conversion rates, shorten transit times, and drive improved financial performance by leveraging your retail stores as regional fulfillment locations. Furthermore, this can be a lower-risk starting point for store-based fulfillment in order to assess your stores' ability to execute BOPIS strategies. LYONSCG can help with technology assessment, integration, and business process consulting.
9. Our customers can return online purchases to a retail storeYou Scored 0/5
What are the major obstacles keeping you from processing these returns? Consider quick-win solutions that don't require cross-channel integration to facilitate returns in the short-term. At the very least, processing these returns with a refund via in-store credit should be implemented.
10. We offer Buy Online, Pickup In Store (BOPIS) functionality to shoppersYou Scored 0/5
Consumers increasingly expect a Store Pickup option when shopping online. If technology and organizational hurdles are getting in the way of implementing BOPIS, consider starting with a Ship-To-Store approach.
11. We leverage Endless Aisle / mobile Point-of-Sale solutionsYou Scored 0/4
Explore extending your commerce platform into the retail store. Many modern commerce platforms support associate-facing "Save-the-Sale" applications - from simple "Order On Behalf Of" functionality within the commerce site to more complex mPOS apps.
12. Our customer experience is optimized for mobile usersYou Scored 1/4
Responsive sites provide basic mobile presentation benefits, however, optimizing your mobile experience is critical for gaining a competitive advantage. Can you elaborate on your mobile strategy?
13. We segment our loyalty program customers based upon tier of engagementYou Scored 0/2
If you do not have a rewards program, or if it is in development, you can still target "loyal" customers. If you have a CRM or a system that functions as a CRM, segment your highest, most frequent purchasers and treat them as your loyalty segment- offering rewards through email. If you do not have CRM data, begin by segmenting your most engaged openers - these can be customers you start priming for Loyalty through messaging and exclusive offers.
14. We email to defined segmentsYou Scored 0/2
Emailing to your entire list, without segmentation, can lead to a decrease in email engagement KPIs, and most importantly, issues with inbox placement. If you have been blanket blasting your list for a while, your first step is to do an audit of your deliverability. Are you making it into the inbox? If you are, what % of your emails are ending up in the spam folder? Once you know how your total program is affected by your history of blanket blasting your list, you need to develop a testing plan for moving towards segmentation. To start testing, most retailers begin with RFM (Recency, Frequency, Monetary) for splitting their list. Your highest tier from this modeling should get your daily sends, and less engaged subscribers only get your best offers. Test and compare.
15. Our email platform is integrated into multiple systemsYou Scored 0/2
This is a solid foundation, however, you are likely missing out on valuable customer information. Your next step should be building out a customer data profile within your ESP. Speak to your technology partner to discuss next steps for integrating your CRM, or if you do not have a CRM, alternative customer data sources, into your email platform.
16. We have an active paid media programYou Scored 0/2
What are the major hurdles that have kept you from investing? Acknowledge these challenges, assess where the greatest opportunity lies for your brand, and begin investing in that channel. Brand Search, Shopping, and Display Remarketing are low-risk, high-ROI starting places.
17. Our analytics program is integrated completely with our customer and marketing dataYou Scored 0/2
There are some easy things your company can do to enhance customer tracking. Have both a developer and web analyst who are familiar with your site look at your attribution reporting (across three dimensions: marketing, device, and offline behavior). The analyst can then build a plan for leveraging pertinent data, and the developer can provide ways to make that data easier to track.
18. Our site is ADA compliantYou Scored 0/2
You need to have an audit performed at once by an accredited ADA consultant to assist you in achieving your compliance goals.
19. We are utilizing the latest version of our eCommerce platform and its associated functionalityYou Scored 0/2
Understanding what platform version you are currently utilizing, and comparing its feature set against the latest version of the platform, may spark some interest in new features or an upgrade. This analysis can also help your site generate more revenue by taking advantage of the latest and new features.
What are the most critical customer experience challenges your business requires assistance for?